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Prepaid Energy Meter: Introduction

  • A prepaid energy meter needs to be recharged first in order to utilize energy. A prepaid energy meter is just a like a mobile phone or DTH recharge. After recharging, consumers get a set amount of energy for consumption. Once that energy is consumed, the electricity is automatically cut off.
  • The traditional method of electricity billing is a lengthy and time consuming process. Even though most energy meters are digital, the problem of human error while making the bill cannot be eliminated. Many countries around the world are taking steps to replace the existing meters with prepaid energy meters in order to eliminate these errors, which is likely to drive the prepaid energy meter market during the forecast period.

Key Drivers and Opportunities of the Global Prepaid Energy Meter Market

  • Prepaid cards and the prepaid phone market have been popular since many years. The market during the forecast period is expected to witness slow growth as it is reaching a saturation point. The next prepaid product market is of electricity, with utilities around the world investing heavily in this segment in order to streamline the distribution and collection process. This is expected to be one of the major driving factors of the prepaid energy meter market during the forecast period.
  • Countries around the world are looking for ways to minimize the losses caused due to theft of electricity and unpaid bills. India plans to change all electricity meters to prepaid smart meters by 2022. Such initiatives by governments will fuel the market growth during the forecast period. 5.8 million prepaid meters are already used in Great Britain and the number is expected to increase during the forecast period since consumers prefer to have a control over their expenses and opt for a hassle free service.
  • Few global players operate in this market and new players entering the market have huge scope during the forecast period.

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Europe to Hold Major Share of the Global Prepaid Energy Meter Market

  • In terms of geography, the global prepaid energy meter market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
  • Europe is projected to be the region with highest share in the global prepaid energy meter market followed by North America. This is mainly because developed nations in the region have already adopted prepaid energy meters and are finding ways to market them.
  • On the other hand, Asia Pacific is expected be the fastest growing region in the global prepaid energy meter market as many countries in the region are facing problems of electricity theft, and issues with the billing process etc. This has prompted governments of many countries in the region to take important steps to develop the electricity sector.  

Key Players Operating in the Global Market

Major players operating in the global prepaid energy meter market include:

  • Conlog
  • EDMI Limited
  • El Sewedy Electrometer Group
  • Elster GmbH
  • Exceleron
  • HCL
  • Hexing Electrical Company Ltd
  • Itron Inc.
  • Landis+Gyr
  • PayGo Energy
  • Secure Meters
  • Siemens AG

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Global Prepaid Energy Meter Market: Research Scope

Global Prepaid Energy Meter Market, by Product Type

  • Thin Meter-based Solutions
  • Thick Meter-based Solutions

Global Prepaid Energy Meter Market, by Application

  • Residential
  • Commercial
  • Industrial

Global Prepaid Energy Meter Market, by Price

  • Low
  • Medium
  • High

Global Prepaid Energy Meter Market, by Distribution Channel

  • Online
  • Offline

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Prepaid Energy Meter Market

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